v3.26.1
Segment Reporting
6 Months Ended
Jun. 28, 2026
Segment Reporting  
Segment Reporting

11.Segment Reporting

The Company identifies operating segments based on whether the Company’s Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), regularly reviews operating results of particular components of the Company’s activities and allocates resources and assesses performance based on those results. 

The Company has one reportable segment related to the sale of merchandise directly to end customers. Neither sales to wholesale customers nor international customers are greater than 10% of total revenue, and therefore, neither requires separate disclosure as a reportable segment. All long-lived assets are located in the United States and substantially all revenue is attributable to customers based in the United States.

The measurement of segment assets is reported on the condensed consolidated balance sheet as total condensed consolidated assets. All assets, liabilities, cash flows, revenue and expenses are reported in the Company’s one reportable segment. When evaluating the Company’s financial performance and making strategic decisions, the CODM focuses their review of expenses incurred by the nature of those expenses.

The table below is a summary of the segment profit or loss, including significant segment expenses (in thousands):

Thirteen Weeks Ended

Twenty-Six Weeks Ended

June 28,

  ​ ​ ​

June 29,

June 28,

  ​ ​ ​

June 29,

2026

2025

2026

2025

Net revenue

$

67,807

$

81,520

$

125,338

$

145,675

Less:

Cost of revenue

34,852

44,588

66,435

82,902

Employee expenses (excluding equity-based compensation expense)

10,558

12,146

20,978

23,939

Equity-based compensation expense

628

1,282

1,345

2,756

Advertising expenses

14,399

17,582

24,520

29,590

Other net costs (1)

7,990

7,365

15,600

14,761

Depreciation and amortization (2)

570

634

1,153

1,299

Interest expense

302

856

696

1,433

Income tax provision (benefit)

(9)

62

184

(12)

Segment net loss

$

(1,483)

$

(2,995)

$

(5,573)

$

(10,993)

(1)Other net costs include professional services fees, other selling costs, other general and administrative costs, technology and software costs, facilities costs, interest income, non-operating income and expenses, and other immaterial expenses that do not align with the separately presented expense categories.

(2)Excludes depreciation expense related to distribution facilities recorded in cost of revenue.